Government rolls out 10-year job creation program

The government has launched a long-term masterplan for job creation that aims to bring down the unemployment rate and increase the labor force participation rate (LFPR) by 2034.

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The Department of Economy, Planning and Development (DEPDev) together with the Department of Trade and Industry as well as the Department of Labor and Employment yesterday unveiled the Trabaho Para Sa Bayan (TPB) Plan 2025 to 2034.

The plan outlines the strategies for job creation and enhancing the employability of the Filipino workforce over the next decade.

Aligned with the Philippine Development Plan 2023 to 2028 and the long-term vision or the AmBisyon Natin 2040, President Marcos signed Republic Act 11962 or the TPB Act in September 2023 to address challenges in the labor market.

Under the TPB, the government aims to increase the LFPR or percentage of the working-age population that is either employed or actively seeking employment to 68.2 percent in 2034 from 64.4 percent last year.

The plan also aims to increase the female LFPR to 54 percent in 2028 and 59 percent in 2034, from 53.8 percent in 2024.

The government is also targeting to lower the unemployment rate to three percent by 2034 from 3.8 percent last year.